Cohort plc (CHRT.L) | Investment Case

1. Company Snapshot

1.a. Company Description

Cohort plc, through its subsidiaries, provides various products and services in defense and security markets in the United Kingdom, Germany, Portugal, Africa, North and South America, and other European countries.The company offers electro-optical and electro-mechanical systems, such as command, control, communications, computers, intelligence, surveillance, target acquisition, and reconnaissance, as well as combat systems; and communications systems.It also provides integrated command, control, and communications systems for warships and submarines; tactical radio, vehicle intercoms, field communications, and networking software and equipment; electronic warfare operational support, managed, secure communications, cyber security, and training support services; and electronic and surveillance technology services.

In addition, the company offers training and simulation; digital forensics; and research, advice, and support services.It provides products and services for customers in the defense and security markets for land, maritime, and air applications, as well as civil markets covering the security, transport, and the oil and gas industry.Cohort plc was incorporated in 2006 and is headquartered in Reading, the United Kingdom.

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1.b. Last Insights on CHRT

Cohort plc's recent performance is driven by attractive financial prospects, as indicated by its 33% stock increase over the last three months. The company's dividend payment, which rose to £0.0525 on February 18, is also a positive factor. Additionally, Cohort has been recognized as an undiscovered gem in the UK market, demonstrating resilience and potential growth amidst economic uncertainties.

1.c. Company Highlights

Last Price	1086
Change Percentage	0.93%
Open	1076
Previous Close	1076
Market Cap ( Millions)	494
Volume	119664
Year High	1796
Year Low	963.3
M A 50	1255.76
M A 200	1344.98

FCF Yield	7.93%
Dividend Yield	1.50%
ROE	14.31%
Debt / Equity	49.73%
Net Debt / EBIDTA	13.02%
Price To Book	2.85
Price Earnings Ratio	23.46
Price To FCF	12.62
Price To sales	1.83
EV / EBITDA	15.33

2. Transcript Summary

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3. NewsRoom

Does This Valuation Of Cohort plc (LON:CHRT) Imply Investors Are Overpaying?

Nov -07

Source:

Is Cohort plc's (LON:CHRT) Recent Stock Performance Tethered To Its Strong Fundamentals?

Jul -17

Source:

Undiscovered Gems in the UK to Explore This July 2025

Jul -17

Source:

Winners of Defense Stock Frenzy in Europe, From Chemical to Goggle Makers

Jun -06

Source:

Is Cohort plc (LON:CHRT) Expensive For A Reason? A Look At Its Intrinsic Value

May -05

Source:

Cohort And 2 Other Undiscovered Gems In The United Kingdom

Apr -15

Source:

Undiscovered Gems in the United Kingdom for March 2025

Mar -17

Source:

Undiscovered Gems With Strong Fundamentals In The UK February 2025

Feb -14

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.02%)

6. Segments

Sensors and Effectors

Expected Growth: 4.8%

Growing demand for advanced defense and security systems, increasing adoption of autonomous systems, and rising need for precision targeting and countermeasures drive the growth of sensors and effectors market.

Communication and Intelligence

Expected Growth: 7.4%

Growing demand for advanced electronic systems, surveillance, and cybersecurity solutions in defense and security markets, driven by increasing threats from terrorism, cyber-attacks, and geopolitical tensions.

7. Detailed Products

Chess Dynamics

A leading supplier of surveillance and reconnaissance systems, including thermal imaging cameras and laser systems.

ELAC Sonar

A provider of sonar systems and sensors for underwater surveillance and reconnaissance.

Curtiss-Wright

A provider of ruggedized electronics and mission-critical systems for defense and aerospace applications.

SEA

A provider of electronic systems and subsystems for defense and aerospace applications.

8. Cohort plc's Porter Forces

Forces Ranking

Threat Of Substitutes

Cohort plc operates in a niche market with limited substitutes, but there are some alternatives available to customers.

Bargaining Power Of Customers

Cohort plc has a diverse customer base, which reduces the bargaining power of individual customers.

Bargaining Power Of Suppliers

Cohort plc has a moderate level of dependence on its suppliers, but it has implemented strategies to mitigate this risk.

Threat Of New Entrants

Cohort plc operates in a market with high barriers to entry, making it difficult for new entrants to join the market.

Intensity Of Rivalry

Cohort plc operates in a highly competitive market with several established players, leading to intense rivalry.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	26.50%
Debt Cost	5.16%
Equity Weight	73.50%
Equity Cost	6.48%
WACC	6.13%
Leverage	36.05%

11. Quality Control: Cohort plc passed 6 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Cohort

A-Score: 5.2/10

Value: 3.1

Growth: 8.0

Quality: 5.8

Yield: 3.1

Momentum: 9.5

Volatility: 1.3

1-Year Total Return ->

Chemring

A-Score: 5.1/10

Value: 1.7

Growth: 5.2

Quality: 6.4

Yield: 2.5

Momentum: 10.0

Volatility: 4.7

1-Year Total Return ->

TAT Technologies

A-Score: 4.2/10

Value: 3.9

Growth: 5.1

Quality: 5.6

Yield: 0.0

Momentum: 10.0

Volatility: 0.7

1-Year Total Return ->

Avio

A-Score: 4.0/10

Value: 1.4

Growth: 6.2

Quality: 4.5

Yield: 0.6

Momentum: 10.0

Volatility: 1.0

1-Year Total Return ->

OHB

A-Score: 3.8/10

Value: 1.8

Growth: 4.2

Quality: 4.4

Yield: 1.9

Momentum: 10.0

Volatility: 0.3

1-Year Total Return ->

CTT Systems

A-Score: 3.5/10

Value: 0.2

Growth: 5.9

Quality: 8.5

Yield: 3.1

Momentum: 2.0

Volatility: 1.3

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-4.67%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

6.13%

Cohort plc - GB00B0YD2B94

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on CHRT

1.c. Company Highlights

Strong Momentum

Fairly Valued

Average Quality

Higher Growth

Expensive

Revenues Miss

Medium Volatility

More Volatile

Revenues Beats

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.02%)

6. Segments

Sensors and Effectors

Expected Growth: 4.8%

Communication and Intelligence

Expected Growth: 7.4%

7. Detailed Products

Chess Dynamics

ELAC Sonar

Curtiss-Wright

SEA

8. Cohort plc's Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Cohort plc passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

10.86$

Current Price

10.86$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA